中国人民银行明确下半年重点工作 加力支持科技创新等

Core Viewpoint - The People's Bank of China (PBOC) is committed to implementing a moderately loose monetary policy to support technological innovation, boost consumption, assist small and micro enterprises, stabilize foreign trade, and deepen financial reform and high-level opening-up, aiming for high-quality economic development in the second half of 2025 [1][2] Group 1: Monetary Policy and Economic Support - The PBOC plans to continue its moderately loose monetary policy, utilizing various monetary policy tools to maintain ample liquidity and guide financial institutions to ensure reasonable credit growth [1] - As of the end of June, loans in sectors such as technology, green finance, inclusive small and micro enterprises, elderly care, and digital economy grew by 12.5%, 25.5%, 12.3%, 43%, and 11.5% year-on-year, respectively [1] Group 2: Financial Risk Management - The PBOC emphasizes the importance of preventing and mitigating financial risks in key areas, including supporting local government financing platforms and advancing risk disposal in critical regions and institutions [2] - There will be a focus on enhancing risk monitoring, assessment, and macro-prudential management [2] Group 3: International Cooperation and Digital Currency - The PBOC aims to accelerate the use of the renminbi in trade, enhance its financing capabilities, and optimize the management policies for domestic enterprises listed overseas [2] - Plans include advancing the construction of a "technology board" in the bond market and expanding the issuance of technology innovation bonds [2] - The PBOC will also work on the digital central bank initiatives, including the infrastructure for digital renminbi and its application [2]